I forget who was asking. Look at ECTY. Management already said they have to file bankruptcy as they can't fund 2H13 operations - stock was 14 cents earlier this week and now 35 cents. I got off too early at 23 cents but just an example that crud floats adn that didn't even have any significant short position to start with. VELT is FAR from bankruptcy (explained a dozen times already -so don't ask why..again). Management is selling off non-productive lines and bringing costs in line with revenue. They are heading to the best part of the year in terms of revenues and profits. Daily volume is now under 1.5M. That means, it will take 12 days for shorts to cover on their trading volume alone (and not even counting the naked shorts from last week). If this can be 'controlled' by the multi-alias kaboom boy - even just a 10% increase daily on average will lead to a triple ($1) in 12 trading days. But, I am not impressed with kaboom so far. Love to be proven wrong though...
Look at bankrupt ECTY go! It has tripled in 3 days after a couple of weeks in the gutter on no news. Agreed it has a much smaller float. But it is going bankrupt for crying out loud. And it does not even have a significant short position. I brought my VELT average down to 46 cents today - trying to keep it within striking distance! The free float is probably quite thin here as well if those who bought in the 30s just hold on. Somebody was buying the shares that were sold down here. Let's see one of the 7 catalysts come into play in the next month to start the action. But it could happen with no news as well, like ECTY...
unfortunately this all sounds to me that you beta are playing this stock with a technical bounce just because it happens all the time rather than a fundamental turn around in the company. my point i proven because you plan on selling in November long before any turn around can or will take place and per your $3 in a year and a half why not sit tight its because you are not confident
fooled, you have accused me of mindless pumping and destroying other posters' portfolios. Even the unfortunate posters you quoted have not accused me as such. I am done responding to you. But if others really had that concern, 54M shares have traded above 33 cents since the gap down on Aug 21. The float is 72M. About 20% is held by insiders and let's say half the institutions held or about 18%. 38% of 72M is 27M. 54+27 = 81M shares or more than the float. It has churned beyond reason and the volume is tapering off. If you are logical, then you should know your question is silly. Later...
KUDOS to you Beta
I spoke with two company employees and IR on Tuesday and they all said that "Bankruptcy" is not on the table as they are going to restructure and place the company on solid footing once Mobclix is sold and disposed. And they have the backing from several institutions and HSBC.
U talked to employees? Wouldnt that be insider trading? And even if u allegedly did, employees are given rosy talk garbage and are last to know of BK since its not in their best interests to know aka they will go to different jobs to prepare themselves.
and IR are u really serious. its been stated numerous times here speaking to Leslie Green is like talking to a high school girl. doesnt know her tush from a hole in the ground.
Geez, this kaboom dude just keeps popping them out. Here I see we have yet another baby kaboom disciple spewing words from the great and powerful one. Give it a break baby Hewie, you and your new born siblings aren't helping the situation.
the vicious trade behind EDGX is holding this down with the black box trading algorithms
SOMEONE NEEDS TO UNPLUG THEIR COMPUTER TERMINAL
But I see that someone like Kaboom Dude has been taking out all of EDGX road blocks which is a good sign for higher prices ahead.
Great post BETA!